Tax credit for other dependents is a system designed by Uncle Sam in which relations (nuclear and extended families) can qualify for tax credits. With this credit, taxpayers can get...
Being a Caregiver is a pretty tricky job that could also take its toll on your pocket. It is like being responsible for someone's well being, hence everything the person needs...
Navigating the U.S. tax system can be complex for both resident and non-resident aliens. With various rules and regulations, individuals must understand their tax obligations and take...
People who hire household workers, like gardeners, caregivers, housekeepers, etc., will pay an employment tax called the nanny tax. The threshold for the 2023 tax year is $2,600, and...
Posted by KLSM CPA Firm PLLC on 05/27/2023
As a non-citizen of the United States or living abroad, filing a first-time tax can be challenging. You have no experience and what it takes to file tax for the first time correctly....
Who is a tax dependent?A tax dependent is a relative or child whose characteristics and relationship with you allow you to claim certain credits and tax deductions, such as head of...
Posted by CORE PERFORMANCE on 03/10/2022
There is no dodging of social security taxes for many people for their employment and self-employment taxes. However, there are exceptions to these groups of people.You cannot dodge...
Posted by Karen Munoz, EA on 11/30/2021
If an individual meets the criteria for foreign income exclusion, they can enjoy this tax benefit. This exclusion also entails the foreign housing exclusion and the foreign housing...
Posted by CORE PERFORMANCE on 10/09/2021
When setting up a business venture, you've got to think about various things to get done, and your taxes are at the top of the list. You must carry out proper research at the initial...
Posted by CORE PERFORMANCE on 09/30/2021